$CLF Weekly Cycle Location

20 February 2017

CLF had a great earnings release and the market rewarded it handsomely. It took out the previous weekly cycle at 10.90 without any hesitation. It is currently only in the 2nd week of the weekly cycle. Right now it is 14th day into the daily cycle. It is in the correction phase to digest the overbought condition that was caused by the good earning report. If it violates 10.90 a little, it’s okay. As long as it holds above 8.45, stay long.

This entry was posted on Monday, February 20th, 2017 at 8:29 pm and is filed under Hot Stocks, Trade Recommendation.
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